cPDM: Key market research findings
- Need for enhanced safety features drives market growth
- Automotive segment accounts for a majority of the market’s revenue
- Key vendors – Siemens, Dassault Systèmes, PTC, and SAP
Technavio’s market research analysts predict the global cPDM market to grow at a CAGR of more than 10% between 2016 and 2020. The growth of this market is fueled by the increasing need for safety features in automobiles. The recent increase in the number of deaths resulting from road accidents is encouraging many countries to mandate the adoption of better safety features in automobiles. cPDM is used extensively for R&D activities related to crash tests and other safety feature measurements. During 2015, the global cPDM market was dominated by EMEA with a market share of around 39%. Increasing number of product recalls in the automotive industry will contribute to the growth of the market in this region during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the cPDM segments based on the end-user.
Ability of cPDM to support different types of CAD files is one of the key driving forces behind its increasing adoption for a broad range of applications. cPDM vendors have started incorporating the capability to support different types of CAD files such as .dwg, .dft, .3dxml, .psm, and database files. This enables the integration of different design files for the generation of a single product structure. Also, it enables the integration of 2D and 3D documents for the visualization of the product assembly,” says Amrita Choudhury, Lead Analyst, ICT, Technavio Research.
During 2015, the automotive industry dominated the global cPDM market by accounting for around 24% of the overall market share. cPDM plays a major role in meeting the requirements of the automotive industry to comply with government regulations. Increased need for fuel-efficient automobiles because of rising fuel prices, stringent environmental laws and emission standards from various governments such as the EU, an increase in the demand for small and light vehicles globally, and growing safety requirements in vehicles are some of the factors fueling the adoption of cPDM in the automotive industry.
The key vendors in the global cPDM market include Siemens, Dassault Systèmes, PTC, and SAP. Major cPDM solution vendors are focusing on cloud offerings and bringing together diverse technologies related to mobile, data, and analytics to gain maximum market traction. With technological advances in their offerings, vendors are successfully delivering products with better user experience, improved performance, and increased flexibility.
A more detailed analysis is available in the Technavio report, Global cPDM Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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